English | 日本語
  • Home
  • About us
  • Testimonials
  • Our Services
    • Support-Package
    • Project Research
    • Business-Startup
    • Company-Health-Check
    • Work-With-JPN
  • Column
  • Blog
  • Contact

Japanese LNG buyers may form alliance to check prices

27/2/2016

0 Comments

 
Picture
According to The Australian Financial Review today, Japan's Jera Co said it's in talks with other LNG companies to create an alliance of buyers that account for more than one-third of global trade.
Jera, a joint venture between Tokyo Electric Power Co and Chubu Electric Power Co, is seeking to cooperate with Korea Gas Corp and China National Offshore Oil Corp on liquefied natural gas procurement and investment, said Hiroki Sato, vice president of the company's fuel buying department. A memorandum of understanding may be signed as early as Friday, he said.
A deal between the companies may lead to the creation of a potentially dominant bargaining alliance as buyers band together to take advantage of new supply from Australia to the US that's tilting negotiating power in favour of consumers.
"We can work hard to lower prices by using our large volumes," Sato said in an interview in Tokyo Thursday. "The bottom line is we should work together to reduce costs in Japan, as well as the rest of Asia."
The deal will benefit smaller companies outside the group as lower prices would be passed on to other buyers, Sato said. The alliance members would also be able to swap or trade cargoes among themselves to help balance supply between their operations.
Asian spot LNG prices fell below $US5 per million British thermal unit for the first time last month, extending its tumble from a high of $US19.70 in February 2014, according to New York-based Energy Intelligence. Cargoes bought through long-term contracts, which are traditionally linked to oil, may fall to a low of about $US4.10 per million Btu by June, Credit Suisse Group said in a report February 5.
Jera has said the combined Tokyo Electric and Chubu Electric purchases would be about 40 million metric tons a year of LNG. Korea Gas imported 31.4 million tons in 2015 and China National Offshore imported 14.1 million tons in 2014, according to the companies. Global LNG trade rose 1 per cent in 2014 to 239.2 million tons, according to the latest annual report by the International Group of Liquefied Natural Gas Importers.

Ref: http://www.afr.com/business/energy/gas/lng-buyers-may-form-alliance-to-check-prices-20160225-gn412a​

If you want to read this article in Japanese, please see the following link:
http://www.j-abc.com/jp-blog/133

0 Comments



Leave a Reply.

    Subscribe to our English Newsletter

    Author

    Haru Kinase

    Picture

    Archives

    February 2019
    January 2019
    December 2018
    November 2018
    October 2018
    September 2018
    August 2018
    July 2018
    June 2018
    May 2018
    April 2018
    March 2018
    February 2018
    January 2018
    December 2017
    November 2017
    October 2017
    September 2017
    August 2017
    July 2017
    June 2017
    May 2017
    April 2017
    March 2017
    February 2017
    January 2017
    December 2016
    November 2016
    October 2016
    September 2016
    August 2016
    July 2016
    June 2016
    May 2016
    April 2016
    March 2016
    February 2016
    January 2016
    December 2015
    November 2015
    October 2015
    September 2015
    August 2015
    July 2015
    June 2015
    May 2015
    April 2015
    March 2015
    February 2015

    RSS Feed

    Categories

    All
    AUS Business
    AUS Market
    AUS Real Estate
    AUS Technology
    JPN Business
    JPN Market
    JPN Technology

Getting around

Home    |   About us    |   Our Services  |   Column  |   Blog  |   Contact   |  Website term of use 
ホーム  |   会社概要  |  お客様の声  |  サービス   |  コラム  |   ブログ  |   問い合わせ  |   Website term of use(英語)
Subscribe to our English Newsletter
日本語ニュースレター配信登録
© Japan Australia Business Creators Pty Ltd | All Rights Reserved. Website designed and developed by Japan Australia Business Creators Pty Ltd.


share